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Uber going big on corporate business with travel management services

Published: 20 Feb. 2025, 17:02 Updated: 20 Feb. 2025, 19:55

LEE JAE-LIM
[email protected]

Uber Korea's general manager, Song Jin-woo, speaks at the press event to explain the mobility giant's business strategy in Korea at The Plaza Hotel in central Seoul on Feb. 20. [UBER]

Uber released a new ride-hailing service aimed at corporate travel management in Korea on Thursday, along with plans to roll out additional features to strengthen its presence in the domestic market.

“This year, we will accelerate efforts to improve ride dispatch rates and expand our market share based on stable growth," said Uber Korea’s general manager, Song Jin-woo, at a press event held in central Seoul on Thursday to explain the U.S.-based mobility operator's business strategies.

“We plan to broaden our service offerings across more regions to further expand our presence in the market.”

The new business-to-business service known as Uber for Business, or U4B, can track commuting and business trip spending for employees and customers.

Once the employee changes their profile from personal to business, the ride expense will automatically be paid by preregistered corporate accounts, and the invoice can be emailed directly without the inconvenience of requesting a paper receipt to submit for reimbursement.

Easy settlement allows users to modify their payment method up to 30 days post-transaction, making it especially useful for employees who mistakenly charge personal rides to a corporate card or vice versa.

Uber plans to introduce more services in Korea, including the Premier Van option, leisure and travel-focused offerings, and a family feature.

“The Premier Van option is for travelers with large luggage when heading to or from the airport,” Song said. “We will strive to introduce features to Korea from Uber’s extensive service lineup that cater to domestic demand.”

Uber rebranded its joint venture UT, formed with SK Square subsidiary TMAP Mobility, to Uber Taxi in March last year. In December, the company announced that it would acquire TMAP's entire stake in UT, making it the sole owner.

“Since the rebranding, the number of foreign users and young Korean customers in the country has increased,” Song said. “Our biggest achievement last year was significantly improving the dispatch success rate.”

Song said that the number of affiliated cab drivers has doubled since the rebranding, according to Uber Taxi data.

BY LEE JAE-LIM [[email protected]]